Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
Currently, 16% of Nike’s U.S. shoe imports come from China, but the company aims to lower this figure to the high single digits by May 2026. Executives noted that tariffs could add nearly $1 billion to Nike’s costs. To offset this, the brand plans to restructure its sourcing, raise product prices, and explore corporate cost cuts.
Despite a 12% drop in fourth-quarter sales, Nike beat market expectations, with shares surging 11% in after-hours trading. The running category saw a return to growth, driven by renewed investment in products like the Pegasus and Vomero lines. Nike also increased marketing spend by 15% and hosted a high-profile event featuring star athlete Faith Kipyegon, highlighting its renewed focus on performance sportswear.
Looking ahead, Nike projects a mid-single-digit revenue decline in the first quarter—less severe than analysts’ expected 7.3% dip. However, executives cautioned that recovery in the Chinese market will be slow due to economic challenges and heightened competition.
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission...
Four Palestinians, including an eight-year-old boy, were killed in Israeli strikes across Gaza on Monday (8 June), according to local health officials...
Kazakhstan will require major businesses to introduce five-year water-saving plans as authorities warn that worsening shortages could threaten not onl...
A powerful earthquake struck off the southern Philippine island of Mindanao on Monday (8 June), killing at least 32 people and triggering tsunami war...
A French Rafale fighter jet shot down a drone that entered Latvian airspace from Russia on Monday (8 June), triggering security alerts and renewing co...
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission has completed the vote count in the parliamentary elections. An official announcement is still expected.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment